Markets touched 20K peak again and NIFTY recorded all time high and so it was time for some profit booking. This is common practice and there is nothing to worry. Bulls are in firm control and so there is nothing to worry. Unless we have shorts created, how can the markets move up?
GMR Infra crossed 95% of market limit and once this figure was being reached, every one started booking profit. This resulted in stock going down from 269 to 257. There is nothing to worry as it will move up again with the bottom possibility being around 245.
Reliance Petro moved up smartly on Kuwait company trying to invest aggresively in Oil sector in India. They are looking for Indian companies and Reliance is one of them. This shows that even if Chevron decides to exit, there are many others willing to take the stake. I believe that many companies would not hesitate to get the stake at 350 Rs also as they are sure that it would give them more than 100% returns in 2 years. Where would you get such returns in this world?
Many of the blog readers have asked me to give seperate Info on F & O and I will start this feature in my comments from Monday. However please remember that F & O trades is very risky and unless you have very good capital to invest, please do not invest. Sometimes it is beyond the control of any good analyst and so there may be huge losses.
For example : If one had bought RPL at 290 in F & O, one would have suffered a loss of more than 3 lakhs when it went to 190 levels. There would not be any other way but to square off the position in F & O, where as in in equity you can hold this. However, I will give some tips in F & O for those who want to trade, but be cautious in this and invest in F & O with your profits only which is a good thing.
RCOM should move up as the Spectrum issue seems to be resolved.
Friday, December 7, 2007
Market Comments - Profit Booking
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6 comments:
Thank you Shrikanth for showin us the road ahead :-)
Namaste
hi
May i know the target for IDBI, i bought 100 shares @Rs.150/- as per your guidelines.
Hi
your inputs about IFCI is extremely true, it had provided several opportuntiy for taking profit, but to you think at current level to take profit and exit since it may touch new highs in coming days?
thank you shrikanth for showing me to the how make profit and give ideas to invest in equity
hi srikanth,
thanx.. ur write ups are so simple and makes one to understand share market concept nicely...your wide and commanding knowledge on the subject is a testimony to your analytical skill and indepth reserch on the share market ... pl. keep up the good work..
god bless u...
Hi Srikanth,
More than looking for information, I am writing this to encourage you to continue your good work. Though I have been following up your blog regularly, rarely did I take time out to Thank You.
But would write in occassionally to keep you motivated.
Cheers
Nitin
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